UT Austin (Plan II) vs. W&M (Monroe Scholar)?

DC, a classics/ancient history major with an eye toward grad school or law school in the future, is torn between two very different schools: UT Austin (Plan II) and W&M (Monroe Scholar).

One is a better fit and the other is a better value. While fit and cost will factor into the final decision, the purpose of this post is just to gain information from an academic reputation standpoint.

All other variables being equal, would one school/program provide an appreciable advantage academically or carry more weight with grad/law schools than the other? Thanks in advance for any input!